Good day fellow HIVErs & LEOfinancers,
I hope you've managed to keep a level head through the volatile markets of the past few months, remaining focused on the long-term inevitable success of cryptocurrencies, rather than short-term price action.
Today I wanted to give you another update on the Bitcoin situation in El Salvador, particularly the coastal town of El Zonte, where the Bitcoin movement started in this country a few years ago. Lots of foreigners come here to surf, but lately more and more Bitcoin tourists have been starting to show up since the government made said cryptocurrency legal tender last year.
About a 45 minute drive from San Salvador, El Zonte is a small, underdeveloped beach side town, where virtually all the businesses have adopted Bitcoin as a payment method. There are not very many businesses as of now, but I expect the town to prosper significantly in the coming years as crypto continues to eat away at the fiat system.
Most businesses are accepting lightning bitcoin payments, which can be made over any standard lightning wallet, however I did notice a few businesses that only accept payment via a specialized Bitcoin Beach app, whose QR codes were not compatible with my particular wallet.
The locals I talked to have mixed opinions about the country’s adoption of Bitcoin as legal tender. I would say that most are in agreement with it and see it as an opportunity for El Salvador to progress, while others are more skeptical and their opinion of Bitcoin has been tarnished by technical issues with the government’s Chivo wallet and the lightning network.
You will no doubt bump into other like-minded individuals if you visit the beach-side restaurants and bars here. Wealthy bitcoiners are showing up, as well as news agencies like CBS to make documentaries about what’s happening in El Zonte.
If you take a trip down there be sure to check out the Hope House, which is a Bitcoin landmark in the town, where they are teaching the local population about Bitcoin and technology in general. They are selling Bitcoin t-shirts as well if you want to support the cause.
Until next time,
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Thumbnail -> https://www.pressenza.com/wp-content/uploads/2017/02/
Chivo Wallet -> https://www.chivowallet.com/
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